Newton Welcomes Koinly!

This article was originally published April 5, 2023 and updated on January 23, 2026.

Since 2023 Newton customers have been able to use Koinly as a third-party tool to help prepare their cryptocurrency tax reports.

Why Koinly?

Koinly is a software platform designed to help users calculate and report cryptocurrency taxes. It allows you to import transactions from supported platforms, including Newton, as well as external wallets and exchanges.

Koinly offers a range of plans depending on your needs, whether you are new to crypto or an active trader managing a higher volume of transactions.

How To Use Koinly With Newton

Not sure where to start? You are not alone. Below is an overview of how cryptocurrency taxes are typically calculated and how Koinly can help streamline reporting.

How cryptocurrency taxes are often calculated manually

If you calculate your cryptocurrency taxes yourself, the process generally involves the following steps:

• Identifying each taxable cryptocurrency transaction and the type of tax that applies
• Calculating your cost using the Adjusted Cost Base (ACB) method and taking the Superficial Loss Rule into consideration, where applicable
• Identifying the fair market value in CAD of any cryptocurrency income on the day it was received
• Calculating capital gains and losses for each disposition
• Calculating your net capital gain or loss and your total cryptocurrency income for the tax year
  
  

Filing taxes can be time-consuming, particularly if you have used multiple wallets or exchanges.

How Koinly works with Newton

Koinly can automate much of this work by organizing transaction data for you. To get started:

1. Log in to your Newton account
2. Navigate to Settings
3. Select Statements & Reports, then Tax Reports, then Koinly Reports
4. Connect to Koinly by selecting Claim offer or Connect to Koinly.io, which uses a single sign-on integration
5. Download the CSV file formatted for Koinly from your Newton account
6. Upload the file to Koinly
   
   

You can also connect additional cryptocurrency wallets, exchanges, and blockchains within Koinly using an API or CSV file.

Once your data is imported, Koinly generates a tax report based on the information provided.

Konily shares how to file your cryptocurrency taxes

If you hold or transact in cryptocurrency, you are generally required to report applicable gains, losses, and income as part of your annual Canadian income tax return. The deadline for filing a 2025 tax return, including cryptocurrency taxes, is April 30, 2026.

How you file depends on your preferred method:

• With an accountant: You can provide your Complete Tax Report from Koinly or grant your accountant access to download the required information
• Using tax software such as TurboTax: You can use the totals from your Complete Tax Report to complete your online tax return
• By mail: Cryptocurrency capital gains and losses are reported on Schedule 3, and additional cryptocurrency income is reported on the T1 General form. These forms can also be filed online through the CRA My Account service

To sign up for Koinly, log in to your Newton app here and navigate to Tax Reports under the Statements & Reports section.

Koinly plans to offer a promotional discount on paid plans for Newton customers in the coming months. Details and terms will be shared once the offer is available.